Stock splits were a thing in the 90s, back when pogs, Starter coats and Saved by the Bell were popular. But the positive reaction to Apple ' Inc.’s split, announced last week, suggests the maneuver could be poised for a comeback.

The iPhone and iPad maker last week announced a 7-for-1 split, a move that won’t impact the value of the company, but does put the shares within reach of more individual investors. Apple has already seen demand for its stock spike; shares are up 14% since the split was announced last Wednesday.

The stock, which recently diverged from the tech-heavy Nasdaq Composite, touched a fresh 52-week high at $595.98 on Tuesday.

Stock splits have been shunned by companies in recent years, as higher-priced stocks have become commonplace in the market. From 2008 through 2013, an average of 12 S&P 500 companies split their stocks each year, down from an average of 64 splits a year in the 1990s.

“There are a number of companies whose stocks are ripe for a split,” said Ana Avramovic, an analyst at Credit Suisse. That’s because the average price of a single stock in the S&P 500 is about $80, more than double the price about four years ago, she says. There are 20 companies in the S&P 500 that currently sport stock prices above $200.

The relatively few companies that have split their stocks over the past few years have seen positive short-term moves.

“In every single instance [since 2012], the stock popped or remained flat in after-hours or pre-market trading following the announcement of a stock split,” Ms. Avramovic said.

And as we’ve reported, there appears to be positive long-term ramifications after a split. During the 1990s, companies that announced splits outperformed peers with similar stock profiles by 9% in the following year, according to a 2002 study conducted by David Ikenberry, dean of the University of Colorado’s business school.

Ms. Avramovic said there are two catalysts behind the positive moves: they can attract a larger investor base and they can signal an optimistic outlook from management.

Apple’s split could also increase overall trading volume. Apple’s average trading volume over the past 30 days is about 10 million shares, according to FactSet. After the split, volume figures could spike by seven times, which would make Apple the third-most heavily traded stock in the S&P 500, behind Bank of America Corp. and Facebook Inc.

Apple, alone, could increase the market’s overall consolidated volume by 1.2%, according to Ms. Avramovic’s calculations.

“Is it possible that Apple, the unofficial arbiter of all things cool, will start a trend?” she asks. “Data suggest yes…it would potentially unlock a whole new pool of investors, increase volume, and, data suggest, boost prices too.

“Let’s hope that other companies try to be more like the ‘cool’ kid,” she added.